On December 31, 2018, Hamilton Company had 17,000 shares outstanding of $32 par value common stock. The shares were originally issued for $96 per share. On January 1, 2019, Hamilton Company announced a 3 for 1 stock split of its common stock with a corresponding reduction in the stocks par value. The market price of the stock just before the split was $190 per share. After the stock split, how many shares are outstanding and what is the par value?

Select one:

a. 5,667 Shares Outstanding, $96 Par Value

b. 51,000 Shares Outstanding, $10.67 Par Value

c. 51,00 Shares Outstanding, $32 Par Value

d. 5,667 Shares Outstanding, $10.67 Par Value